Zacks Investment Research upgraded shares of WesBanco (NASDAQ:WSBC) from a hold rating to a buy rating in a research report report published on Saturday morning. The brokerage currently has $45.00 price objective on the financial services provider’s stock.
According to Zacks, “WESBANCO, INC. is a multi-bank holding company whose subsidiaries are engaged in general banking business. “
A number of other equities analysts also recently issued reports on WSBC. Boenning Scattergood reissued a hold rating on shares of WesBanco in a research note on Tuesday, January 2nd. DA Davidson set a $48.00 target price on WesBanco and gave the stock a buy rating in a research note on Thursday, December 21st. Keefe, Bruyette & Woods reissued a hold rating and set a $41.00 target price on shares of WesBanco in a research note on Tuesday, October 3rd. Sandler O’Neill downgraded WesBanco from a buy rating to a hold rating in a research note on Friday, October 20th. Finally, B. Riley set a $40.00 price objective on WesBanco and gave the company a hold rating in a research note on Tuesday, November 14th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. WesBanco currently has an average rating of Hold and a consensus price target of $42.80.
WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). The business had revenue of $95.15 million for the quarter, compared to analysts’ expectations of $98.37 million. WesBanco had a return on equity of 7.66% and a net margin of 24.73%. During the same period last year, the company posted $0.60 earnings per share. research analysts anticipate that WesBanco will post 2.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.55%. The ex-dividend date was Thursday, December 7th. WesBanco’s payout ratio is currently 44.44%.
In related news, Director F Eric Nelson, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $42.06, for a total value of $525,750.00. Following the completion of the transaction, the director now directly owns 29,717 shares of the company’s stock, valued at approximately $1,249,897.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.05% of the company’s stock.
Large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its holdings in WesBanco by 6.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock valued at $146,000 after buying an additional 229 shares during the last quarter. Sei Investments Co. grew its holdings in WesBanco by 4,236.6% during the 2nd quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock valued at $174,000 after buying an additional 4,279 shares during the last quarter. Amalgamated Bank acquired a new stake in WesBanco during the 2nd quarter valued at $211,000. Victory Capital Management Inc. grew its holdings in WesBanco by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after buying an additional 801 shares during the last quarter. Finally, Stifel Financial Corp acquired a new stake in WesBanco during the 3rd quarter valued at $220,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.
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WesBanco Company Profile
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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